Source: Bankless
Compiled by: BitpushNews
Sophon, an emerging emerging consumer track Layer 2, reached a new high of Total Secured Value ($TVS) of $251+ million last week after the release of its $SOPH token.
This relatively new blockchain has been low-key so far, but it is seeking to maintain its momentum a foothold in the entertainment consumer track of cryptocurrency. This article will walk you through all its fundamentals.
2>What is Sophon? sophto>a ofZKsync Elastic Chain ecosystem, Sophon is an Ethereumium Layer 2 network built on the ZK Stack framework.
> Not use Rollup architecture, but instead runs as a Validium. Specifically, it processes data offline through Avail and ensures its transactions by submitting zero-knowledge proofs to Ethereumeum.This design allows the network to maintain low transaction fees and high throughput while inheriting Ethereum's security. Additionally, its smart accounts and Paymaster pillpillars are designed to provide a user experience that can attract daily users beyond the cryptocurrency field.
>Why Sophon?Sophon's core mission is to support on-chain applications and platforms with broad appeal, so imaginable scenarios include gambling, collectibles, games, social media, ticketing, and more.
This focus focuses makes Sophon in the same field as as Abstract, which has been been strong in the since the beginning of this year. >other words' pioneers may become tomorrow giants. This is Sophon is on.
$SOPH Token
$SOPH is Sophon's native utility token. It is used bit used pay for on-chain transaction gas costs and provide security through staking.
After the token generation event (TGE) last week, with a circulating supply of 2 billion tokens and a maximum supply of 10 billion, $$SOPH is currently trading slightly below $005 per token, bringing the project's market value to $$96 million, with a fully dilvaldiluted valvaluation of $479 million.
As for staking, users can deposit their $SOPH into Sophon's Earn platform to help secure the network and earn a share of its transaction fees. As of the time of writing, over 5,000 holders have staked 2.7% of the $SOPH supply, earning a a 4% annual yield.
How to to Deeply Participate
obtain $SOPHon>Go to appon.xyz and click "Login". In the subsequent interface, create an account account using an existing wallet or start with an email email, Discord,, Google,,, telegram or X account.
>If your $$$SOPH funds are on Ethereum, you need to transfer them to themon recommended using the Sophto complete this operation,, but third-party platforms like Orbiter Finance can also be used. >3SophHome is the the of the Sophon community. Users can use this center to find and try for categories like DDeFi, Non-Fungible Token, and games. It is also a place to track and manage Sophon activities and profiles. If you you you explore its ecosystem ecosystem, Start from Sophon Home.
